Consider a 30-year S200,000 5/1 ARM having a 2.6% margin and based on the CMT index. Assume that is carries a payment ca

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Consider A 30 Year S200 000 5 1 Arm Having A 2 6 Margin And Based On The Cmt Index Assume That Is Carries A Payment Ca 1 (28.95 KiB) Viewed 14 times

Consider a 30-year S200,000 5/1 ARM having a 2.6% margin and based on the CMT index. Assume that is carries a payment cap of 8% and the monthly payments for the 6th year are $1448 77 at an annual interest rate of 8.1%. Also assume that the CMT index is 8.3% at the beginning of the 7th year and all interest rates are compounded monthly (a) Calculate the unpaid balance of the loan at the beginning of the 7th year (b) Calculate the monthly payment for the 7th year without using the payment cap (c) Calculate the monthly payment for the 7th year using the payment cap (d) How much interest is due for the 73rd month? (e) Determine the unpaid balance at the end of the 73rd month GED vid (a) The unpaid balance at the beginning of the 7th year is 5 yo (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed) ot